"On Wednesday, Art Basel Miami Beach opened its VIP preview with something the art market hasn't felt much lately: momentum. The skies were clear outside, while inside a queue of well-heeled attendees snaked around the convention center, waiting for the doors to open. A cluster of extravagantly dressed older collectors, many sporting multiple large glinting rings, swarmed the entrance, scanning for acquaintances who might let them edge ahead."
"By mid-morning, major early sales were already circulating. At the top end, David Zwirner reported selling a new Gerhard Richter for $5.5 million, followed by a 1967 Alice Neel for $3.3 million, two Josef Albers paintings from his Homage to the Square series for $2.5 million and $2.2 million, and a Ruth Asawa wall-mounted wire sculpture (ca. 1969) for $1.2 million."
Art Basel Miami Beach's VIP preview opened to notably busy attendance, with clear skies outside and long queues of well-heeled attendees waiting to enter. Extravagantly dressed older collectors gathered at the entrance, seeking acquaintances to edge ahead, and one visitor observed the crowd's uncommon busyness. Market momentum was buoyed by a $2.2 billion November auction season, reinforcing optimistic perceptions that carried into December. The gallery sector retained underlying anxiety amid an unusually large number of first-time exhibitors. Major early sales included a Gerhard Richter for $5.5 million, an Alice Neel for $3.3 million, multiple Josef Albers works, a Ruth Asawa sculpture, and high-value sales at Hauser & Wirth and others, with additional mid- to high-range transactions.
Read at ARTnews.com
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